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2015 F-150 kick-starts Ford sales

The F-150 had a middling year in 2014, and its sales dipped slightly as Ford transitioned to producing the all-new truck with an aluminum body. But with one factory humming, another on the way and a fuller stock of trucks, 2015 is already shaping up to be a different story. The F-Series posted a 17-percent leap in January, helping to push Ford sales to a 15-percent gain for the month. The F-Series had its best January performance in 11 years with sales of 54,370 trucks last month. Much of this strength comes from the new generation of the F-150. While many of the old model are still being sold off, Ford is rolling out the new version. Just five percent of the F-150's retail sales were the new truck in December, but it was up to 18 percent in January. The increase comes as the first factory that makes the truck, Ford's Dearborn facility, is fully back online. The other F-150 factory, in Kansas City, is still completing its changeover to build the aluminum-bodied truck, and that's expected to be finished in the first quarter of this year. Sales of the truck will still be "tempered a bit" until the Kansas City plant ramps up, Ford sales analyst Erich Merkle said. Ford expects to have a full inventory of F-150s by mid-year. To that end, the company announced plans on Wednesday to add 1,550 jobs to support the F-150, including 900 positions at the Kansas City factory. The remaining jobs will be spread out over sites in metro Detroit. The Dearborn and Kansas City factories collectively will be able to build more than 700,000 F-150s annually. The added headcount also means Ford has reached the maximum number of entry-level workers allowed under its pact with the United Auto Workers. About 300 to 500 employees at several plants in the Midwest will transition to a higher pay rate, and their wages will rise from $19.28 an hour to $28.50 an hour. The F-Series was Ford's hottest seller in January, moving off lots in an average of 12 days. The high-end models, the King Ranch and the Platinum versions, are moving slightly quicker. The average transaction price is also up $2,100 for the F-150 compared to January 2014. "We're really pleased with how the new one is doing on dealer lots," Merkle said. A larger stock of F-150s will allow Ford and its rivals to capitalize on low fuel prices, which have slowed consumers' interest in smaller vehicles.

2015 Ford F-150 enters production

Ford has given the F-150 a dramatic makeover for 2015, switching to an aluminum body that helps reduce weight by about 700 pounds. Because the truck is dramatically different, Ford also had to change the way it makes the F-150, so we went inside its sprawling factory in Dearborn, MI, this week to see the Blue Oval's new manufacturing techniques in action.
The company has added 850 jobs at the site and upgraded its stamping and tool and die facilities. The body shop is also modernized, and it has been fitted with 500 new robots that join the structures together. The first 2015 F-150 rolled off the line on Tuesday, and the trucks will begin arriving in dealerships in December. Get a closer look at the F-150's unique assembly process in our video.

Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary